- Equities struggled for direction initially but were modestly positive by mid-morning before accelerating to fresh record highs in the afternoon. Financials significantly underperformed as rate expectations were pared back, but gains elsewhere were solid. S&P closed +0.47%.

- Europe: Decent bounce for EGBs after yesterday's Draghi-Jackson-Hole setback. Bunds bounce off 161 to around 161 ½. Periphery chopping in tandem, IT10s -4.5bp back towards 2 ¼ % again. Little of note as the market waits for US data, headlined by CPI. ECB 'sources' on Reuters say ECB reluctant to specify an end date to QE, likely to seek flexibility in cuts to programme.

- Australia: Aussie bonds marginally drifted higher at the start of the week but the gains were soon pared as prices slipped. 3s opened at 98.000 and soon rose to 98.03 before easing to 97.990 later on. Similarly, 10s opened at 97.280 and sneaked higher to 97.310 before falling to 97.265 subsequently.

- Japan: Markets closed for Marine Day.

Still To Be Released:

Data:

12:30 GMT - US: Empire State Survey (Jul) (Mkt: 15 Prev: 19.8)

22:45 GMT - NZ: CPI (Q2) (Mkt: 1.9 Prev: 2.2)

Events & Auctions:

JP: Market Holiday - Marine Day

This is just a sample report that would be received as part of our Highlights package (see below).

Highlights

These alerts offer a regular round up of market highlights, starting with overnight market activity and finishing with a closing comment on the markets.